Giancarlo Admits He May Not Finish SEF Rules

Giancarlo Admits He May Not Finish SEF Rules

The chairman of the Commodity Futures Trading Commission (CFTC) has conceded that his attempt to reform rules governing swap execution in the U.S. may not be finished during his tenure.

It would be “hard” to get the rules done quickly and the likelihood of a large number of comment letters on the proposal could slow down the rule process, Christopher Giancarlo said during a press briefing at the Futures Industry Association conference in Boca Raton, Florida, on March 13. The proposal, first unveiled in November, is open to comments until Friday.